TYLER DURDEN, 03 April 2021
Non-fungible tokens, or NFTs, are changing the way we think about art (and other collectibles), and in 2021, investors have started to take notice. As Decrypt writes, in the last year, NFTs have shot to the forefront of the crypto space. The cryptographically-unique tokens make it possible to create real-world scarcity for digital objects, and artists have seized on the opportunity presented by the technology.
“It’s not meaningful to characterize a concept as a financial bubble,” said Chris Wilmer, a University of Pittsburgh academic who co-edits a blockchain research journal.
“‘NFTs’ aren’t in a bubble any more than ‘cryptocurrency’ is a bubble. There will be manias and irrational exuberance, but cryptocurrency is clearly here to stay with us for the long term and NFTs probably are too.”.
Time will tell if this is the start NFT boom’s deflation, or whether the volatility is part of a new market going through a period of price discovery – just as bitcoin and ethereum did (and still does).
However, SchiffGold.com’s Peter Schiff, is a committed skeptic, as he details below, “Do You Want To Buy A Bridge? Inside The Strange Fantasy World Of NFTs”…
